Traders Buy Large Volume of Call Options on GSI Technology (NASDAQ:GSIT)

by · The Markets Daily

GSI Technology, Inc. (NASDAQ:GSITGet Free Report) saw some unusual options trading on Wednesday. Stock traders acquired 6,885 call options on the stock. This is an increase of approximately 135% compared to the typical daily volume of 2,930 call options.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GSI Technology in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GSI Technology presently has a consensus rating of “Sell”.

View Our Latest Research Report on GSI Technology

Insiders Place Their Bets

In other GSI Technology news, VP Patrick T. Chuang sold 40,000 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $8.66, for a total value of $346,400.00. Following the completion of the transaction, the vice president directly owned 15,166 shares in the company, valued at approximately $131,337.56. This trade represents a 72.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Avidan Akerib sold 54,732 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $8.54, for a total value of $467,411.28. Following the completion of the transaction, the vice president directly owned 23,307 shares of the company’s stock, valued at $199,041.78. This represents a 70.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 230,018 shares of company stock worth $2,038,150 in the last 90 days. 25.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GSI Technology

A number of large investors have recently modified their holdings of GSIT. R Squared Ltd bought a new position in shares of GSI Technology during the third quarter valued at about $38,000. Osaic Holdings Inc. grew its position in GSI Technology by 52.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,012 shares of the semiconductor company’s stock worth $40,000 after purchasing an additional 4,112 shares in the last quarter. Bank of America Corp DE increased its stake in GSI Technology by 8,247.6% in the 2nd quarter. Bank of America Corp DE now owns 13,690 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 13,526 shares during the last quarter. Prelude Capital Management LLC bought a new position in shares of GSI Technology during the 3rd quarter worth approximately $52,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in shares of GSI Technology during the 2nd quarter worth approximately $55,000. 33.15% of the stock is currently owned by institutional investors.

GSI Technology Stock Up 4.4%

GSIT traded up $0.34 during midday trading on Friday, hitting $8.05. The company had a trading volume of 1,453,002 shares, compared to its average volume of 1,885,687. The stock’s 50 day moving average price is $6.81 and its 200 day moving average price is $5.57. GSI Technology has a 52 week low of $1.62 and a 52 week high of $18.15. The company has a market capitalization of $283.68 million, a price-to-earnings ratio of -18.30 and a beta of 1.46.

GSI Technology (NASDAQ:GSITGet Free Report) last issued its earnings results on Thursday, October 30th. The semiconductor company reported ($0.11) EPS for the quarter. GSI Technology had a negative net margin of 48.54% and a negative return on equity of 34.79%. The firm had revenue of $6.44 million during the quarter.

GSI Technology Company Profile

(Get Free Report)

GSI Technology, Inc is a fabless semiconductor company specializing in the design and development of high-performance memory products. Headquartered in Sunnyvale, California, the company was founded in 1995 and has focused its efforts on content addressable memory (CAM) and high-speed SRAM (static random-access memory) solutions. As a publicly traded company listed on NASDAQ under the ticker GSIT, GSI Technology leverages advanced architectures to meet demanding data-processing requirements.

The company’s core product portfolio includes ternary CAM (TCAM) devices, binary CAM (BCAM) devices and high-speed synchronous SRAM.

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